Are you a homebuyer or seller affected by the upcoming NAR settlement changes?

This month, new rules are set to change the residential real estate industry. The changes address antitrust legal claims and will be effective nationwide on August 17. These changes aim to overhaul the informal guidelines that often resulted in sellers paying a commission of 5% or 6%. Going forward, agents working with buyers must enter into a written buyer agreement before touring a property, specifying their compensation. These new rules have the potential to fundamentally transform the way Americans buy and sell homes.